Page 18 - Equity Movement Magazine-Issue2

CRYPTOCURRENCY RESOURCE

The ABC’s of

Cryptocurrency

By Lilyvette Rodriguez

urrencies, domestic or
international have a
C“language” all their
own. I don’t know about you,
but when I travel outside the
United States, I am constantly
using the calculator in my
phone to give me an idea of
what I’m paying for in U.S.
dollars.

We are entering an age of
opportunity to learn and grow
with a currency that isn’t tied
into banks or government.
Cryptocurrency is just that. It
can be a bit daunting,
confusing, exciting, while
taking us out of our comfort
zone.

How did this new form of
currency begin? You could say
cryptocurrency had a
mysteriously interesting
beginning.
transaction processing platform, no third-party
In 2008, an unknown programmer known as Satoshi interruptions when transferring or purchasing, and users
Nakamoto, whose real identity has never been can access and pay for their currency anywhere they
confirmed, communicated solely through email and have Internet access. It’s also easier and faster to transfer
electronic messaging, introduced Bitcoin. In 2009, large sums of currency across international borders than
Nakamoto created the original rules for the bitcoin money wires or bank transfers. The currency is in the
network and released the software out into the world. It form of digital tokens. There are other cryptocurrencies
was the first cryptocurrency or virtual currency, ever in circulation, with slightly different nuances. For the
created. The elusive Nakamoto no longer controls the purposes of simplicity, this article will address Bitcoin.
network. The network is the property of all its users.
And Nakamoto? Apparently has vanished from the What is Bitcoin? Simply put, it is a currency system.
cryptocurrency scene. Or has he? Some critics say it is volatile and unpredictable. Its price
determined by open-market bidding on bitcoin
Cryptocurrency is complex, ever-evolving and even more exchanges. I say the stock exchange, or Wall Street, can
confusing for people wondering if they should invest in be described the same, if you don’t know the rules of
bitcoin over stock. Cryptocurrency has its own rules, engagement. So why is it growing in popularity?
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